Newly public Monogram Orthopaedics stock continues downward descent

Newly public Monogram Orthopaedics (NASDAQ:MGRM) shares tumbled Thursday afternoon, continuing their downward slide after making a fiery debut last week.

Shares of Monogram were down 25% at $5.68 at approximately 3:40 p.m. ET after hitting a low of $5.56. The stock opened at $7.59.

Monogram shares made their debut via a Reg A+ filing on May 18, closing 62% higher than their IPO price. The stock rocketed as high as 317% on May 19 to hit $48.99, but has been trending downward since.

Based in Austin, Monogram is a developer of orthopedic implants, tissue ablation tools, robotic surgical equipment and related software.

More on Monogram Orthopaedics:

Monogram Orthopaedics stock drops 33% after two days of strong gains

Monogram Orthopedics stock soars as high as 317% post-IPO

Monogram Orthopedics stock soars 91% following $17M IPO (update)